Role of Information

Question 1

Characteristics of useful info

Answer 1

1) Consistent
2) Understandable
3) Relevant and reliable
4) Timely
5) Comparable

Question 2

Advantages of digital capture

Answer 2

1) Cheap
2) Less human error, so better quality data
3) Rapid and easy capture of data
4) Improved security
5) Easy access
6) Easy to track and analyse, improving management and control of organisation
7) Environmental/Commercial benefits

Question 3

Disadvantages of digital capture

Answer 3

1) Can have high capital costs
2) Training costs
3) Systems may crash/become unavailable
4) Security of data concerns
5) Loss or inadequacy of tracking and analytical capability to meet user needs

Question 4

Cloud Accounting

Answer 4

Accounting system accessed online

Question 5

Advantages cloud accounting

Answer 5

1) Access data anywhere
2) Access to real time info
3) Always using latest version of software
4) Can use analytical tools, within cloud accounting itself, or 3rd party tools
5) Can grant secure access to data to trusted 3rd parties
6) Can connect to bank accounts

Question 6

Cloud accounting disadvantages

Answer 6

1) Reliance on Internet and speed of transmitting data
2) Lack of customisation
3) Lack of data security
4) Locked in to one system

Question 7

Finance function documentation

Answer 7

1) Inventory control
2) Costing info
3) Info for/from suppliers
4) Info for/from customers
5) budgetary info

Question 8

Cyber Attack

Answer 8

Attempt to destroy a comp. network or system

Question 9

Risks to data security

Answer 9

1) Physical intrusion leading to theft/damage of assets
2) Physical damage to hardware
3) Damage to data
4) Operational mistakes
5) Industrial espionage/fraud

Question 10

Why is data security important

Answer 10

1) Protect commercially sensitive data
2) Helps support effective and efficient ways of working
3) Confidentiality of personal info
4) Confidentiality of customer/supplier info
5) Ensure reliability and completeness of data
6) Compliance with Rata Protection Act 2018, General Data Protection Regulation 2016, Computer Misuse Act 1990

Question 11

Consequences if data insecure

Answer 11

1) Loss of competitive advantage
2) Unauthorised access
3) Unauthorised ammendment
4) Corruption and/or unauthorised deletion

Question 12

Data security functions

Answer 12

1) Threat avoidance
2) Prevention
3) Deterrence
4) Detection
5) Recovery
6) Correction

Question 13

Physical security measures

Answer 13

1) Fire precautions
2) Data to protect against power surges
3) Appropriate positioning of hardware

Question 14

How can you offset risks of fraud

Answer 14

1) Adequate controls over processing
2) Division of duties
3) Regular internal audit of controls

Question 15

Password rules

Answer 15

1) Hard to guess
2) 6 characters, 1 non letter
3) Replace pre-set passwords ASAP
4) Keep password secret
5) Change regularly
6) Should be altered if may have been found out
7) No re-use of old passwords

Question 16

Stop viruses

Answer 16

1) anti-viruses
2) Control on external sw use
3) Use of only tested marked disks etc
4) Restricted access to disks etc
5) Use of passwords and ltd user numbers

Question 17

Stop cyber-attacks

Answer 17

1) Don’t dl content from unknown sources
2) Check authenticity of emails
3) Only enter info on sites known to be safe
4) Keep sw up to date
5) Install firewall and backup data
6) Controlled access to system